Tyco International Ltd.

Tyco International, Ltd. has received "over $200 million in federal contract obligations ... [and] was the 68th largest publicly traded federal contractor in fiscal year 2001. About 76 percent of Tyco's federal contracts are with the Department of Defense. The contracts are for such products and services as aeronautical and nautical system manufacturing, architect and engineering services, construction and restoration of facilities, maintenance and repairs, general purpose machine manufacturing, and environmental consulting services."

"According to Securities and Exchange Commission (SEC) filings, in 1997 Tyco International, Ltd., incorporated in Massachusetts, merged into ADT Limited, a Bermuda corporation. The name of the combined company was changed from ADT Limited to Tyco International, Ltd. Each Tyco share was converted to one share of stock in the combined company. In a press release, Tyco said that the combined company would provide cost, marketing, and service synergies. According to the prospectus to shareholders filed with the SEC, keeping the company incorporated in Bermuda would allow the combined company to preserve certain advantages enjoyed by ADT Limited. For example, Tyco International reported that its overall tax savings was over $400 million in 2001."

Other Related SourceWatch Resources

 * corporate inversion
 * Defense contractors
 * federal contractors
 * Homeland Security contractors
 * Military-industrial complex
 * Prison-industrial complex